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gain on sale of business asset, real property, reported 2x
on the " S Corporation Shareholder Stock Debt Basis Limitations Worksheet", the gain from the sale of real property, is listed 2x, line g net capital gains and line h net section 1231 gain.
Not sure how that happened? it seems the calculations and therefore the gain should only be 1 section so the gain is not reported 2x.
I don't remember any instructions on how to report the disposition/sale and the resulting gain in only one section and some questions about the sale that would lead to one section or another.
Also I started to amend the return in TT and it seems to be the same process as filing the original return? I'm guessing at some point there will be functionality to distinguish between the new and old info?
‎February 9, 2023
3:58 PM